Apple has entered the Green Bond market with a bang – issuing the largest US corporate green bond yet.
Proceeds from the $1.5 green bond will fund projects "where we believe we can make the most environmentally positive impact" in our business, Apple says:
- Reduce Apple’s climate footprint by driving energy efficiency in buildings, products and supply chain, and through increasing use of renewable energy and energy storage.
- Pioneer the use of greener materials in our products and processes, such as bio-based and recycled materials.
- Conserve precious natural resources through water efficiency, such as increased use of recycled water, and enhanced recycling.
The bond is rated Aa1 by Moodys and pays 2.85% over 7 years. Projects will be independently audited to ensure they meet green bond standards.
Last year, a record $42 billion in green bonds were issued worldwide, but far from the $100 billion goal.
Read our article, Apple Embarks on Renewable Energy Building Binge in China.